JLL Capital Markets completed the $104.5-million sale of 210-220 E. 22nd Street a seven-story, 204-unit rental building located in Manhattan’s Gramercy Park neighborhood.
A JLL team including Andrew Scandalios, Jeffrey Julien, Rob Hinckley and Steven Rutman represented the seller, a global real estate investment advisor and the buyer, a joint venture of Robert Morgenstern’s New York-based Canvas Property Group, Declaration Partners and Tokyu Land US Corporation.
“Gramercy Park has historically been and continues to be one of the most supply-constrained submarkets in New York City,” said Hinckley. “For those working in the Midtown South tech sector or First Avenue medical corridor, 210-220 E. 22nd Street offers a coveted walkable commute and a dynamic neighborhood to live.”
Comprised of two adjoining, complementary buildings with connectivity on the ground floor, the 95% occupied 210-220 E. 22nd is a 100% fair market property.
Units feature studio to two-bedroom and 1- to 2-bathroom floorplans which range from 350 to 1,000 square feet. 210-220 E. 22nd Street is nestled on a beautiful tree-lined street located between 2nd & 3rd Avenues, just two blocks from the 6 train, steps to the famous Gramercy Park, Union Square Greenmarket, and surrounded by cozy cafes, restaurants, nightlife, and all that Gramercy has to offer.
JLL is a leading professional services firm that specializes in real estate and investment management. Their vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, they will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.
